Washington, DC (PRWEB) July 15, 2013
Federal grants expert Bob Lloyd will provide practical and detailed guidance on OMB's just-released annual Compliance Supplement in “How Grantees Can Use the 2013 OMB A-133 Compliance Supplement for ‘Audit Readiness,’” the upcoming July 24 webinar from Federal Fund Management Advisor.
The federal government’s first line of defense against fraud, waste, abuse and mismanagement in federal grants and subgrants is the requirement that recipients and subrecipients arrange an annual independent single audit. This audit must be performed in accordance with Office of Management and Budget Circular A-133, and a key tool associated with that audit is the hefty Compliance Supplement for Circular A-133 Audits.
Understanding the 1,500-plus page Supplement’s standard features — and how they make it a guide to effective federal grants management — is a real value to recipients and subrecipients. What makes that more important this year is that OMB is in the midst of a major overhaul of the single audit requirement — raising the expenditure threshold that triggers the audit and streamlining the compliance testing that relies on the Supplement’s guidance.
This information-packed webinar will help make organizations more “audit ready.” Participants will learn —
- How the Compliance Supplement is organized, and how to focus on the specific information about an organization’s grant programs
- Why some grant programs are included while many others are not
- The “Matrix of Compliance Requirements” and the importance of “CFDA” numbers in using it
- The current cross-cutting compliance requirements that will be tested and specific audit objectives associated with each
- The role of the identified “suggested” audit procedures
- How to be alert to possible grant documentation that will help demonstrate compliance
- The Supplement’s “guidance” on internal controls over compliance
- Key changes and advisories in this year’s edition
- How OMB’s reform proposal will impact the Supplement
Visit http://federalfundmanagement.com/webinars/wg318_072413 for more details and registration information.
The webinar will be presented by Bob Lloyd, a respected authority on policies and practices affecting the award, administration and oversight of federal grants, contracts and subawards. Mr. Lloyd has more than 40 years of experience in federal award implementation. Prior to starting his management consulting practice in Washington, D.C., in 1982, he served as the executive director of the Grants Management Advisory Service and held staff positions in two large federally funded organizations. Since then, he has been a consultant, trainer or advisor to award and audit units in 16 federal award-making departments and agencies, and to recipient and subrecipient organizations and their professional advisors located in all 50 states, the District of Columbia, several U.S. territories and 18 foreign countries. He is the principal author of several reference works on federal grants management and audits, and currently serves as contributing editor to Federal Grants News and Federal Auditing News, published jointly by Atlantic Information Services and NACUBO. He also is a Charter Life Member of the National Grants Management Association and served on its Board of Directors for five years.
Attendees of the Live Webinar Can Earn Up to 1.5 CPE Credits
Federal Fund Management Advisor is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: http://www.learningmarket.org.
About Federal Fund Management Advisor
Federal Fund Management Advisor is an organization that sponsors Federal Funding webinars and delivers free Federal Funding E-Strategies. Visit http://www.FederalFundManagement.com.